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SAUSALITO, CA-(BUSINESS WIRE)--July 31, 2006--Triton Distribution Systems, Inc. (OTCBB:PAOI), a next generation web-based travel services distributor, announced today that it has received accreditation from the Philippine Economic Zone Authority (PEZA), giving it special incentives and preferred business status for its expansion into Southeast Asia.
Triton has recently opened an office in Manila in The Enterprise Building, one of PEZA’s designated “Economic Zones” in Makati City, Manila’s prestigious business and financial center.
PEZA is an investment promotion agency and a government owned corporation, attached to the Department of Trade & Industry. PEZA’s accreditation boosts Triton’s efforts to establish the Philippines as its major operations hub to serve the region’s growing travel market.
The accreditation allows Triton to enjoy fiscal and non-fiscal incentives, such as exemption from corporate income tax for a period of time, simplified import and export procedures, and exemption from duties and tax on imported capital equipment. PEZA also offers ready-to-occupy office locations such as the one Triton occupies in designated “Economic Zones.”
“Receiving PEZA’s accreditation is a cornerstone of our business strategy for developing the Southeast Asia travel market and for helping to boost the travel and tourism industry there,” said Gregory Lykiardopoulos, Chairman and CEO of Triton Distribution Systems. “We are pleased to have the Philippine Economic Zone Authority as our strategic partner as we continue to serve our growing number of clients in that area of the world.”
About Triton Distribution Systems
Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert™, TritonTwist™ and Red Dragon Express™ -- the world’s first distribution gateway to the Chinese market.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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